Thursday, 11 February 2010
This week, we’ve heard positive reports from Prada, LVMH and Hermes (click on the brand names for their news). Now, it’s Swatch’s time to hog the spotlight…
After an increase in sales in both January and February, Swatch announced they hope that 2010 “will be their best year ever.”
Swatch’s CEO Nick Hayek said, "We see high double-digit sales growth in January and also in February so far and this should be possible for the whole of 2010."
This news follows Swatch’s revelation last month that business was showing signs of “a significant rebound” (refer to January 22 for details).
The news wasn’t all good though. According to Reuters, the company posted a 9 percent drop in full-year profit this week to 763 million Swiss francs (AU $818 million), but still ahead of the average forecast of 698 million francs (AU $748 million) given by analysts.
Who's behind the MO DOWN
Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au